CAPREIT Appoints New Member of Board of Trustees

TORONTO, ONTARIO--(Marketwire - Feb. 7, 2013) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today that Mr. David Ehrlich has been appointed as a member of CAPREIT's Board of Trustees effective immediately.

Mr. Ehrlich is a senior partner in the Toronto office of the law firm Stikeman Elliott, LLP where he is a member of both the corporate and real estate groups. During his 25 year career, his practice has been focused on real estate and structured finance, including public real estate securities. Mr. Ehrlich has been actively involved with real estate investment trusts since their inception in Canada, acting for both issuers and underwriters in numerous transactions. He has also been involved with some of Canada's largest REIT merger and acquisition transactions. Mr. Ehrlich has been an editor of legal texts and spoken at and organized numerous real estate conferences.

"David brings a wealth of real estate, legal and capital markets experience to CAPREIT. He has been involved with CAPREIT since before our founding in 1997 and has been a trusted advisor ever since. It is a natural evolution for him to become a Trustee and we are delighted to have him join the Board of Trustees," commented Michael Stein, Chairman.

About CAPREIT

As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 37,488 residential units, comprising 34,118 residential suites and 14 manufactured home communities comprising 3,370 land lease sites located in and near major urban centres across Canada. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT's intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.